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To: Jerry Olson who wrote (55734)	8/12/1999 7:52:00 PM
From: Jenna	Respond to of 120523

<<ALERT>> Brocade Communications Reports Record Revenues and Earnings for Third Quarter Of Fiscal 1999 actual 0.06 expected 0.04 last year -0.46 revenue. 338.8% SAN JOSE, Calif., Aug. 12 /PRNewswire/ -- Brocade Communications Systems, Inc. (BROCADE®) (Nasdaq: BRCD - news), a leading supplier of Fibre Channel fabric solutions for Storage Area Networking, reported net revenues for the third quarter of fiscal 1999 (Q399) ended July 31, 1999 of $20.1 million, a 339 percent increase over $4.6 million reported for the same quarter in fiscal 1998. Net income was $1.6 million in Q399, a $9.7 million increase over the net loss of $8.1 million reported for the same period a year ago. Net income per share was $0.06 per share compared with net loss of $0.46 per share for the third quarter of fiscal 1998. All per share amounts are computed on a pro forma diluted basis, which assumes conversion of the convertible preferred stock (using the if-converted method) from the original date of issuance. During the quarter, the Company generated $6.9 million of cash from operations, reduced its short- and long-term debt by $4.0 million and purchased $800,000 of capital equipment. In addition, on May 24, 1999, BROCADE completed its initial public offering of its common stock, which raised approximately $65.1 million. Total cash and short-term investments at July 31, 1999 were $76.3 million.